It’s hard for people to keep up with the more than 100 changes the SECURE Act 2.0 made in retirement plans and related tax code provisions. Here’s a summary of the key changes in required minimum distributions (RMDs) in the law that was enacted at the end of 2022. The beginning age for RMDs of
Taxes
On February 10, after appeals from many in the tax industry, the IRS issued guidance on the taxability of state-issued economic impact payments. Of the twenty-one states that issued some type of payment, the IRS determined that seventeen (including California) were made “for the promotion of the general welfare or as a disaster relief payment”
Professor Steven A. Dean of Brooklyn Law School discusses Treasury’s Equity Action Plan and its progress on examining potential racial bias in the tax code. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: bias
If you are a successful business owner, you are likely looking for a way to pay fewer taxes. Hiring your spouse to work in your small business can be a smart tax move for many business owners. To make these tax-planning strategies work, your spouse must do actual work in your business, and you must
Topline Only two weeks after the start of tax season, the Internal Revenue Service (IRS) told millions of Americans to hold off on filing their taxes to deal with special tax refunds or payments issued by states in 2022—but Friday, told them to proceed. Key Facts Tax season started on January 23, but just two